Europe's major indices popped over 1% at the open on Thursday,
but have since pulled back slightly.

Mike van Dulken, head of research at Accendo Markets, says in an
emailed statement: "The positive open comes almost entirely
courtesy of last night’s surprise OPEC production cut agreement.
The news sent oil prices sharply higher and has helped Energy
names overnight while buoying sentiment in the general commodity
space."

"While the European indices continued to benefit from the reports
of an OPEC output deal, Brent Crude itself seemed a bit more
sceptical.

"The black stuff has spent the morning teasing a half a percent
decline, suggesting that the joy the commodity felt last night
doesn’t quite hold up in the cold light of day. That’s not only
because OPEC is a notoriously fickle and unreliable institution –
in other words, it’s not the first time that the market has heard
promises of some kind of cap – but that the new daily output
range is more like a freeze than an actual cut in production."

Whether the rally is a "dead cat bounce" — where shares rise
simply because they've fallen so low that traders think there
must be some value there — or the troubled lender has turned a
corner remains to be seen.Investing.com

Elsewhere, outsourcing and professional services company Capita
is a notable faller, down over 26% on the FTSE 100 after a profit
warning.

Capita said
in a trading update on Thursday morning that profits for the
year are set to be between £535 million and £555 million, down
from previous expectations of £613 million. The company blames
"continued delays in decision making" among clients, likely due
to Brexit.Investing.com